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Now, You Can Buy a Tesla for Less than the Average New Car

Now, You Can Buy a Tesla for Less than the Average New Car

If you want to buy a Tesla and you want it to be affordable, a new Model 3 now costs less than the average new gas-powered car.

Tesla recently announced price cuts for the Model 3 and Model Y, which are the two smallest vehicles in the fleet. The starting price of the Model 3 is now low enough to be less than the average new gas-powered car. This signals a slight shift in the market, but it could also be nothing more than a one-off.

How much is the average price of a new car?

Most new cars are much more expensive than vehicles of the past. Forget trying to buy a small car for under $15,000, it simply won’t happen. Right now, the average new car price is $49,388, which is a six percent increase compared to a year ago. The starting price of the Tesla Model 3 is now $43,000 which is already $6,388 less than the average new car price. If you qualify for the entire $7,500 federal EV tax credit, the price of this small electric sedan is only $35,500, which makes the Model 3 much more affordable.

Currently, the Model 3 starting price is a one-off

Once Tesla announced its price cuts, Ford followed suit with price cuts on the Mustang Mach-E. These two EVs are now more affordable than ever, but that isn’t something we see with most new electric vehicles. Instead, most EVs cost a lot more than the average gas-powered vehicle. It could be good to buy a Tesla for its affordable price, but a few other EVs that start higher than the average are the Genesis Electrified G80 which costs $79,825, the BMW i4 which starts at $52,000, and the Audi RS e-tron GT which begins at $105,000.

What does the 2023 Tesla Model 3 offer?

The base version of the Model 3 is the standard RWD model. This model starts at $42,990 and gives you a lot to enjoy, especially the pedigree of being a Tesla with some amazing technology. This base version includes:

You can add the Enhanced Autopilot option to this car for $6,000 and enjoy the benefits of:

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